News

Saudi Aramco, the world’s largest oil exporter, has announced its first-quarter 2023 net profit of US$31.88 billion, beating analysts’ expectations. Although the figures represent a 19% drop from the corresponding period in 2022, the company has exceeded market expectations...

ExxonMobil affiliate and Stabroek Block operator, Esso Exploration and Production Guyana Limited (EEPGL) has agreed to provide Guyana with real-time access to data pertaining to the Uaru Development Project. The level of compliance expected by Guyanese regulators is explicitly...

After opening the month of April with a balance of GY$305,363,388,000 (approximately 1.46 billion), Guyana's Natural Resource Fund received royalties and two payments of profit oil revenues. This moved the balance of the fund to GY$348.6 billion (US$1.67 billion),...

With expanding crude production offshore Guyana at an unrivaled pace, builders of floating production, storage and offloading (FPSO) units are being pushed to add higher capacity vessels to their portfolios.  MODEC and SBM Offshore have both been entrusted by ExxonMobil...

Phoenix Development and Havenbeheer Suriname have submitted a scoping report to Suriname’s National Institute for Environment and Development (NIMOS) seeking environmental authorisation for the planned liquid natural gas and mega port project - Firebird LNG.  In a May 8 announcement,...

The Environmental Protection Agency (EPA) has filed an appeal against a recent upset judgment by the High Court. Justice Sandil Kissoon directed the EPA to secure an unlimited parent and/or affiliate guarantee, based on a provision in ExxonMobil Guyana’s...

Work to deliver Exxon’s fourth oil production project offshore Guyana is progressing rapidly at opposite ends of the globe. Construction of the massive ONE GUYANA FPSO is underway in Singapore and development drilling is in high gear at the...

Suriname’s state oil company Staatsolie Maatschappij Suriname N.V., TotalEnergies Suriname and QatarEnergy signed production sharing contracts for offshore blocks 6 and 8 on Monday May 8, 2023. In 2021, a Shallow Offshore Bid Round was completed offshore the South American...

Noble said it has kicked off the implementation of its management system on the Discoverer rig which is currently drilling CGX’s Wei-1 well offshore Guyana. Discoverer is the first Maersk vessel to test the Noble management system following the...

ExxonMobil Corporation’s affiliate, Esso Exploration and Production Guyana Limited (EEPGL), is required to submit US$1.2 million to the Guyana government to support its audit of drilling and production operations at the Uaru project. This was outlined in the Petroleum Production...